4 DMC projects approved for TIF

Dec. 13--While other projects have received tax-increment financing from the city of Rochester, the Destination Medical Center Corp. board has approved four projects.

In the order they were approved as DMC projects, they are:

* Project -- Titan Hilton at Broadway and East Center Street

* Description -- A 19-story, mixed-use building in the Downtown Waterfront subdistrict, the project includes 15,000 square feet of planned retail space and 264 hotel rooms under the Hilton brand. The city is building a 630-space parking ramp in connection to the project.

* Description -- A 13-story, mixed-use building in the Saint Marys Place subdistrict, the residential and commercial project includes 21,000 square feet of planned retail space and 347 luxury apartments. The project will include 560 parking spaces.

* Groundbreaking -- November 2017

* Developer -- Twin Cities developer Alatus LLC

* Capital investment -- $115 million

* Approved tax-increment financing -- $10.5 million

* Anticipated property tax change -- From $136,606 to $1.25 million

----* Project -- Urban on First at Fifth Street Southwest and First Avenue

* Developer -- Opus Development Co. and Titan Development and Investment, both of Rochester

* Capital investment -- $38 million

* Approved tax-increment financing -- $3.8 million

* Anticipated property tax change -- From $70,158 to $472,000

----* Project -- Mortenson Phase one project at the corner of Second Avenue and Fifth Street Southwest.

* Description -- The 89,000-square-foot projects is set to be the first life science building in Destination Medical Center'sDiscovery Square subdistrict. The building will have 80,000 square feet of rentable space.